Trading Report: Today, Eads & Heald Investment Counsel Sold shares of Northrop Grumman Corp. (NOC)

Today, Eads & Heald Investment Counsel Sold shares of Northrop Grumman Corp. (NOC)

Eads & Heald Investment Counsel cut its stake in Northrop Grumman Corp. (NYSE:NOC) by 10.6% during the second quarter, Holdings Channel reports. The firm owned 5,328 shares of the company’s stock after selling 633 shares during the period. Eads & Heald Investment Counsel’s holdings in Northrop Grumman Corp. were worth $1,184,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NOC. Tocqueville Asset Management L.P. boosted its stake in shares of Northrop Grumman Corp. by 18.2% in the second quarter. Tocqueville Asset Management L.P. now owns 2,920 shares of the company’s stock valued at $649,000 after buying an additional 449 shares during the period. Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of Northrop Grumman Corp. by 1.7% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 32,748 shares of the company’s stock valued at $7,279,000 after buying an additional 553 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Northrop Grumman Corp. by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,411 shares of the company’s stock valued at $2,980,000 after buying an additional 142 shares during the period. Concert Wealth Management Inc. boosted its stake in shares of Northrop Grumman Corp. by 3.4% in the second quarter. Concert Wealth Management Inc. now owns 1,067 shares of the company’s stock valued at $238,000 after buying an additional 35 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its stake in shares of Northrop Grumman Corp. by 43.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 3,971 shares of the company’s stock valued at $863,000 after buying an additional 1,197 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

Northrop Grumman Corp. (NYSE:NOC) traded up 0.463% on Tuesday, hitting $220.155. 204,954 shares of the company were exchanged. Northrop Grumman Corp. has a 52 week low of $173.19 and a 52 week high of $224.12. The company has a market capitalization of $39.31 billion, a price-to-earnings ratio of 19.805 and a beta of 0.72. The stock has a 50 day moving average of $214.02 and a 200 day moving average of $213.74.

Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same period last year, the business earned $2.54 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.

Several brokerages have weighed in on NOC. Robert W. Baird began coverage on shares of Northrop Grumman Corp. in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 price objective for the company. Citigroup Inc. raised their target price on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. JPMorgan Chase & Co. lowered shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their target price for the company from $225.00 to $231.00 in a report on Thursday, August 25th. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a report on Tuesday, August 2nd. Finally, Zacks Investment Research lowered shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Northrop Grumman Corp. has a consensus rating of “Buy” and an average target price of $223.97.

In other Northrop Grumman Corp. news, COO Gloria A. Flach sold 3,769 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $218.78, for a total transaction of $824,581.82. Following the transaction, the chief operating officer now directly owns 61,812 shares in the company, valued at $13,523,229.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher T. Jones sold 240 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $215.86, for a total transaction of $51,806.40. Following the transaction, the vice president now owns 48,020 shares in the company, valued at $10,365,597.20. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Northrop Grumman Corp. Company Profile

Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.

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